Portage, MI—49002
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Portage, MI
Home Price Trends — Portage, MI
As of Oct '25, the median home price in Portage, MI is $266,000, with a year-over-year change of 2.3%. This indicates that home prices in Portage, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $266,000 | 2.3% |
| Single Family | $260,000 | 2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $231,000 | 4.1% |
3 Bed | $267,000 | 2.7% |
4 Bed | $355,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Portage, MI
As of July '25, Rentcast reports the average rent in Portage, MI is $1,680, with a year-over-year rent change of -2.3%. Per bedroom, the median rent as of July '25 in Portage, MI is 1-bedrooms: $849, 2-bedrooms: $1,370, 3-bedrooms: $1,470, 4-bedrooms: $2,480. The most common rental property sizes in Portage, MI are 2-bedroom and 1-bedroom, accounting for 41.8% and 39.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,680 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $791 | $849 |
| 2 Bed Rent | $1,150 | $1,370 |
| 3 Bed Rent | $1,400 | $1,470 |
| 4 Bed Rent | $2,500 | $2,480 |
% of Rental Stock
Property Listings — Portage, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Portage, MI is 44. This is a increase of 45.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $371,000 | 16.0% |
Listing Count | 74 | 26.0% |
| Listings as % of Homes | 0.3% | 26.0% |
Days on Market | 44 | 45.0% |
Demographics — Portage, MI
As of the latest ACS Survey released in 2023, Portage, MI has a population of 19,400, which has decreased by -8.4% over the past 5 years. Portage, MI is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 43.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,400 | -8.4% |
% Under 18 | 21.8% | -6.8% |
% Seniors | 18.7% | 23.0% |
% WFH | 8.6% | 126.3% |
% w/ College Degree | 43.0% | 27.2% |
As of the latest ACS Survey released in 2023, Portage, MI is a predominantly white area, with 85.0% of the population identifying as white. The white population has grown by 2.9% in the last 5 years. The second most common race or ethnicity in Portage, MI is hispanic, making up 4.7% of the population. Foreign-born residents account for 3.7% of the population in Portage, MI, and this percentage has decreased by 24.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 85.0% | 2.9% |
% Black | 3.7% | -21.3% |
% Hispanic | 4.7% | -24.2% |
% Asian | 0.9% | -69.0% |
% Foreign Born | 3.7% | -24.5% |
Mortgage and Risk — Portage, MI
According to HUD data as of 2023, there were 321 mortgage originations in Portage, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Portage, MI. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 321 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Portage, MI
As of 2024, the percent of homes in Portage, MI under the Section 8 program is 2.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Portage, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 70 |
Total Units Section 8 | 60 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $99 | $791 | $890 |
| 2 Bedroom | -$90 | $1,150 | $1,060 |
| 3 Bedroom | $0 | $1,400 | $1,400 |
| 4 Bedroom | -$1,000 | $2,500 | $1,500 |
Affordability — Portage, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $266,000 |
| Median Household Income | $71,600 |